IIM-A Director to be Paid Rs 1 Crore as Annual Package

Bhargava said, “A director is like the CEO of an institution. Currently, the CEO of a standard company gets around Rs 1 crore to Rs 2 crore per annum. If IIM Ahmedabad is offering Rs 1 crore, it is a good initiative,” reported Basant Mohanty for The Telegraph.

The requirement for a new director to be appointed by the IIM-A is because the institute director Samir Barua’s tenure ended in October last year and is currently on extension.

An institution source said, “The board of governors is planning to offer Rs 1 crore to the new director to ensure that a good academic gets the job,” as reported by The Telegraph.

A M Naik is the board chairman and also the chief of L&T, in his last several meeting he has been unable to resolve the concern within the search committee. As believed by Bijapurkar and other alumni of the search committee a candidate from the corporate world or an Ivy League university will not get hired for a Rs 80,000 per month salary, which is the current pay scale.

However, the pay package had created a stir leading to debate in the IIM community. One of the IIM directors claimed that the proposal might set new trend which could affect the new IIMs. With the existing unofficial classification, the director questioned, “Can the new IIMs offer such a package? Will it not create categorization among the IIMs?,” as report by The Telegraph.

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